Section 115C-457.1 - Creation of Fund; administration(a) There is created the Civil Penalty and Forfeiture Fund. The Fund shall consist of the clear proceeds of all civil penalties, civil forfeitures, and civil fines that are collected by a State agency and that the General Assembly is authorized to place in a State fund pursuant to Article IX, Section 7(b) of the Constitution.(b) The Fund shall be administered by the Office of State Budget and Management. The Fund and all interest accruing to the Fund shall be faithfully used exclusively for maintaining free public schools.N.C. Gen. Stat. § 115C-457.1
Amended by 2003 N.C. Sess. Laws 0423, s. 2, eff. 8/14/2003.Amended by 2001-424, s. 12.2(b), eff. 7/1/2001. 1997-443, s. 8.20; 2000-140, s. 93.1(a).2003 N.C. Sess. Laws 0423, s. 6, provides: "Sections 2 through 3 of this act become effective only if the voters approve the constitutional amendment set out in Section 1 of this act. If the voters approve the constitutional amendment, Sections 2 through 3 of this act shall become effective January 1, 2005."